Luck versus skill in investing! How much does each matter to investment success? Our guest this week, Financial Thought Leader Michael Mauboussin has written a new book on the topic. Titled The Success Equation: Untangling Skill and Luck In Business, Sports and Investing, its conclusions might surprise you. Continue Reading »
Use Vanguard’s “The Truth About Costs” tool on their website – you can see the returns lost and the returns kept over different periods of time depending upon the expense ratio paid and the average annual return you are expecting.
A Financial Thought Leader who has written a fascinating new book titled, The Success Equation: Untangling Skill and Luck in Business, Sports and Investing. Author Michael Mauboussin is the Chief Investment Strategist at Legg Mason Capital Management as well as an award-winning Adjunct Professor at Columbia Business School. In his book, he analyzes how and when luck and skill intersect to produce successful results. He concludes, surprisingly, that luck plays a big role in success, as he explains here in extra with the story behind landing his first job!